Schmitt Industries, Inc. (SMIT): History, Ownership, Mission, How It Works & Makes Money

Ever heard of Schmitt Industries, Inc. (SMIT) and wondered what they're all about? This company, founded in 1984, operates in two segments: the Measurement Segment and the Ice Cream Segment, with a recent market capitalization of approximately $73.61K as of April 11, 2025. Keep reading to discover how Schmitt makes money through precision measurement solutions and the delightful Ample Hills ice cream.

Schmitt Industries, Inc. (SMIT) History

Schmitt Industries, Inc. Founding Timeline

Year established

Schmitt Industries, Inc. was established in 1987.

Original location

The company's original location was in Portland, Oregon.

Founding team members

The founding team members included:

• Wayne Case
• Dave Hudson
• Paul Schmitt

Initial capital/funding

Information regarding the company's initial capital or funding is not readily available in the provided search results.

Schmitt Industries, Inc. Evolution Milestones

Schmitt Industries, Inc. Transformative Moments

• Going Public (1996): The IPO provided capital for expansion and increased visibility in the market.
• Diversification Strategy: Entering new markets allowed Schmitt Industries to leverage its technology in different sectors, reducing dependence on a single industry.
• Acquisition of Ample Hills Creamery (2021): Marked a significant shift into the consumer market, diversifying the company's portfolio beyond industrial solutions.
• Sale of Ample Hills Creamery (2024): Represented a strategic decision to refocus on the company's core industrial measurement solutions business. The sale to ADM Capital was for $6 million.

For more details about the company's values, check this link: Mission Statement, Vision, & Core Values of Schmitt Industries, Inc. (SMIT).

Schmitt Industries, Inc. (SMIT) Ownership Structure

Schmitt Industries, Inc. exhibits a mixed ownership structure, featuring a combination of institutional, retail, and insider holdings, which influences its governance and strategic direction.

Schmitt Industries, Inc.'s Current Status

Schmitt Industries, Inc. is a publicly traded company, listed on the NASDAQ Capital Market under the ticker symbol SMIT. This allows the general public to purchase shares in the company, contributing to its capital base and influencing its market valuation.

Schmitt Industries, Inc.'s Ownership Breakdown

The ownership of Schmitt Industries, Inc. is distributed among various types of shareholders. As of fiscal year 2024, the breakdown is as follows:

Schmitt Industries, Inc.'s Leadership

The leadership team at Schmitt Industries, Inc. is responsible for the strategic direction and operational management of the company. Key figures include:

• Michael Zapata serves as the Chief Executive Officer (CEO) and Chairman, providing overall leadership and strategic vision.
• David M. Johnson is the Chief Financial Officer (CFO), managing the company's financial operations.

These individuals, along with other members of the executive team and board of directors, guide the company's activities and ensure its adherence to corporate governance standards.

To gain more insights into investor behavior and trends, check out this resource: Exploring Schmitt Industries, Inc. (SMIT) Investor Profile: Who’s Buying and Why?

Schmitt Industries, Inc. (SMIT) Mission and Values

Schmitt Industries aims to enhance productivity and safety through innovative measurement solutions. The company's core values emphasize precision, innovation, and customer satisfaction.

Schmitt Industries, Inc.'s Core Purpose

Official mission statement

Schmitt Industries, Inc. does not have an explicitly published official mission statement. However, through analysis of their business activities and statements, their mission can be understood as follows:

• To design, manufacture, and market innovative measurement products and services.
• To enhance the productivity, safety, and efficiency of their customers' operations.
• To provide high-quality solutions through continuous innovation and customer focus.

Vision statement

Schmitt Industries, Inc. does not have an explicitly published official vision statement. However, their vision can be inferred from their strategic goals and business activities:

• To be a leader in innovative measurement solutions for various industries.
• To expand their market presence and product offerings through continuous development and strategic acquisitions.
• To create long-term value for shareholders by delivering superior products and services.

Company slogan/tagline

Schmitt Industries, Inc. does not have a widely publicized official slogan or tagline. However, considering their focus on precision measurement and technological advancement, a fitting tagline might be:

• 'Precision Measurement for a Safer, More Productive World.'
• 'Innovating Measurement Solutions.'
• 'Accuracy in Every Dimension.'

For more in-depth information, check this out: Mission Statement, Vision, & Core Values of Schmitt Industries, Inc. (SMIT).

Schmitt Industries, Inc. (SMIT) How It Works

Schmitt Industries, Inc. designs, manufactures, and markets precision test and measurement instruments, as well as develops and supports balance solutions for tire assembly. The company operates through two segments: the Measurement segment and the Balancer segment.

Schmitt Industries, Inc.'s Product/Service Portfolio

Schmitt Industries, Inc.'s Operational Framework

Schmitt Industries, Inc. generates revenue through the sale of its measurement and balancing products, as well as providing ongoing service and support. Their operational framework includes:

• Product Development: Research and development teams focus on creating innovative solutions using technologies like laser measurement, MEMS, and balancing techniques.
• Manufacturing: Production facilities manufacture precision instruments and balancing machines.
• Sales and Marketing: A direct sales force and distribution network target OEMs, Tier 1 suppliers, and other industrial customers.
• Service and Support: Provides technical support, training, and maintenance services to ensure customer satisfaction and recurring revenue.

For more in-depth insights into the company's guiding principles, explore Mission Statement, Vision, & Core Values of Schmitt Industries, Inc. (SMIT).

Schmitt Industries, Inc.'s Strategic Advantages

Schmitt Industries, Inc. maintains a competitive edge through the following strategic advantages:

• Technological Expertise: Specialized knowledge in laser measurement, MEMS sensors, and balancing technologies.
• Custom Solutions: Ability to tailor products and services to meet specific customer requirements.
• Established Customer Base: Long-standing relationships with major automotive manufacturers and suppliers.
• Global Reach: Sales and service network that extends across key industrial markets worldwide.

Schmitt Industries, Inc. (SMIT) How It Makes Money

Schmitt Industries, Inc. primarily generates revenue through its two business segments: the Measurement segment, which designs, manufactures, and markets precision laser measurement products, and the Balancer segment, which focuses on on-board balancing systems and related products.

Schmitt Industries, Inc. Revenue Breakdown

Schmitt Industries, Inc. Business Economics

Schmitt Industries, Inc.'s business economics are influenced by several key factors:

• Pricing Strategy: The company employs a value-based pricing strategy, especially for its laser measurement products. This approach means that the pricing reflects the specific value and benefits that the products offer to customers, such as increased precision, efficiency, and reliability in their applications.
• Market Demand: Demand for Schmitt Industries' products is closely tied to the performance of the industries it serves, including the semiconductor, medical, and manufacturing sectors. Economic upturns in these industries typically drive higher demand for the company’s precision measurement and balancing solutions.
• Production Costs: Production costs, which include materials, labor, and overhead, significantly impact the profitability of Schmitt Industries. Efficient supply chain management and production processes are crucial for maintaining competitive pricing and healthy margins.
• R&D Investments: Continuous investment in research and development is essential for maintaining a competitive edge. These investments allow Schmitt Industries to innovate and introduce new products and technologies, which can command higher prices and margins.
• Distribution Channels: Schmitt Industries utilizes a mix of direct sales and distribution partners to reach its global customer base. The effectiveness of these channels in reaching target markets and providing customer support affects overall sales and profitability.

Schmitt Industries, Inc. Financial Performance

Key aspects of Schmitt Industries, Inc.'s financial performance include:

• Revenue Trends: Monitoring the growth and stability of revenue streams from both the Measurement and Balancer segments is crucial. Analyzing year-over-year revenue changes provides insights into market penetration and product demand.
• Gross Margins: Evaluating gross margins indicates the efficiency of the company’s production processes and pricing strategies. Higher gross margins suggest effective cost management and strong pricing power.
• Operating Expenses: Keeping track of operating expenses, including R&D, sales, and administrative costs, is essential for understanding the company’s overall profitability. Efficient management of these expenses can lead to improved operating income.
• Net Income: The ultimate measure of profitability, net income reflects the company's ability to generate profits after all expenses and taxes. Consistent growth in net income is a positive sign of financial health.
• Cash Flow: Analyzing cash flow from operations, investing, and financing activities provides insights into the company’s liquidity and ability to fund future growth. Positive cash flow from operations is particularly important for sustaining long-term growth.

For additional insights into Schmitt Industries, Inc., consider exploring this resource: Exploring Schmitt Industries, Inc. (SMIT) Investor Profile: Who’s Buying and Why?

Schmitt Industries, Inc. (SMIT) Market Position & Future Outlook

Schmitt Industries operates within the highly competitive markets for precision measurement, test, and process control systems, as well as the more specialized sector of CNC (Computer Numerical Control) machine tool solutions. The company's future success hinges on its ability to innovate, adapt to technological advancements, and effectively serve its diverse customer base. For further insights, check out: Exploring Schmitt Industries, Inc. (SMIT) Investor Profile: Who’s Buying and Why?

Competitive Landscape

Opportunities & Challenges

Industry Position

• Schmitt Industries occupies a niche position, focusing on specialized measurement and control solutions.
• The company differentiates itself through its expertise in specific applications and close customer relationships.
• Key to maintaining and improving its industry standing is continued innovation and adaptation to evolving market needs.